Global Elites Undermine Cybercash

LightWorker111

“Cryptocurrency is an encrypted, decentralized digital currency transferred between peers and confirmed in a public ledger via a process known as mining.”

The italicized words emphasize the appeal of cyber currencies: they are “decentralized” – meaning no central bank or government institution has direct control over them – and all cryptocurrency transactions are accessible by anyone, at any time – if they have time to chase the transaction down.

Put more simply; digital transactions put buyer and seller together without a middleman. There may be cyber currency exchange fees associated with withdrawals, but the Big Banks are out of the picture. A lot of people find this very appealing. (Unfortunately, some of these people are criminals who see the opportunity to conduct business without government oversight or interference.)

Most importantly:

“Governments cannot control it – though they can – and will – regulate and tax it (principally through investment instruments).”

By now, you should have a good idea why the NWO, especially its financiers, feel threatened by the likes of Bitcoin, which went from trading to next to nothing ($13, to be exact) when it launched in January 2013 until its meteoric rise in the second half of 2017, peaking at $19,783.06 on December 17. Today, Bitcoin is trading for around $7,000 and may descend lower.

As you can see, Bitcoin’s value has been fluctuating wildly in the past 12 months. When an investment rises and falls rapidly, as is the case with many cyber currencies, financial folks term it highly “volatile.” Higher volatility is associated with higher risk. Higher risks are associated with higher “rewards” (gains or profits) – but may also produce greater losses.

Some investors perceive more pros than cons when it comes to decentralized, digital public trading. One such advantage listed by Forbes is the fact that identity theft is basically impossible. Another is that transactions happen fast, without imposed bank holds for larger amounts.

Also, the cyber currency market never sleeps. From the western point of view, overnight Asian investors helped fuel Bitcoin’s strong gains last year.

So why are cyber currencies tanking right now? Two recent actions are behind the current devaluation:

1. In a bold move, the Chinese government, in its infinite need to control everything, “is to block all websites related to cryptocurrency trading and initial coin offerings (ICOs) – including foreign platforms – in a bid to finally quash the market completely” – this from an updated article in the South China Morning Post which appeared on February 6, 2017.

At one time, the Chinese market made up 90 percent of all Bitcoin trades. The country banned all digital initial coin offerings (ICOs) last September and now intends to banish cybercash entirely. Their stated reason is to curtail criminal access to big-money, low-fee monetary exchanges.

This Week in Asia reports that South Korea is following China’s lead. The country’s Ministry of Justice is “considering shutting down all local cryptocurrency exchanges.”

Other countries which have banned Bitcoin are Bolivia, Ecuador, Kyrgyzstan, Bangladesh, Nepal, and Morocco, according toThe Motley Fool.

Arun Jaitley, India’s finance minister, said recently that the Indian government “does not consider cryptocurrencies legal tender or coin and will take all measures to eliminate the use of these crypto assets in financing illegitimate activities or as part of the payment system.”

The countries mentioned above believe that a total ban on cyber currencies is the only solution to quell criminal mischief. One has to wonder how long can these anti-free trade policies last?

2. Back to the US, citing the investment risk posed by highly volatile assets like cyber currencies, Big Banks, including Bank of America, JP Morgan Chase, and Citigroup, have just announced they will not allow holders of their credit cards to purchase any cryptocurrency.

On the surface, these new punitive policies are designed to protect the lenders (and consumers, according to the credit issuers) from unpaid card balances resulting from margin buying, using credit. If a buyer plans to pay the 30-day future credit card bill with profits from a rising asset, but the asset’s value falls instead, then the buyer may bilk the credit card company after racking up large debt balances.

Reddit cites a Coinbase.com announcement that “a number of the major credit card networks and providers” have the legal right now to handle cyber currency purchases as cash advances, with the associated additional charges and higher interest rates on unpaid balances.

All living organisms seek to protect themselves. The same is true for organizations. For the first time in history, world governments are facing a real challenge to their choking grasp on all things financial. Big Bankers are scrambling for new ways to keep charging high fees for something completely out of their wheelhouse.

To save themselves, these NWO enforcers – Big Governments and Big Banks – intend to pass law after restrictive law.

Like the angry child who storms off with the only baseball mitt in order to stop a losing game, the global elites actually believe that if they can’t enjoy the benefits of cyber currency, no one can.

“The proof of the pudding is in the tasting of it,” so the saying goes. Likewise, proof that cyber currencies will not only endure, but thrive, lies in the use of them. Are there enough non-criminals in the world to appreciate the value of digital cash?

Only time will tell how effective (or not) new financial policies dictated by global elites will impact international cyber currency markets in the long term.

Wouldn’t it be interesting if financial freedom seekers abandoned the Big Banks altogether in favor of credit unions or digital-friendly lenders?

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Satoshi Nakamoto, who may or may not be a real person, and his early followers in 2008, used distributed computers to employ blockchain methodology in order to validate transactions with bitcoin. They hoped this would free people and their transactions from the control and view of governments and central banks. We suspect, though, that the blockchain methodology on which crypto is based will ultimately have the exact opposite effect.

history and logic would suggest that eventually digital cryptocurrency will replace money as it currently exists. However, in this brave new world we suspect there will be significant differences from what Nakamoto and his followers envisioned. Everyone will have a blockchain wallet. All transactions and accounts will have digital identifying numbers. Blockchain methodology will insure against counterfeiting and other frauds by having a digital ledger of transactions that is transparent to the world. This is the utopia that bitcoin founders envisioned but before this occurs we suspect governments will take over the cryptocurrency universe. Then governments would ultimately know the exact real identity of all blockchain wallet owners, giving the government knowledge of all transactions. Governments and banks, central and otherwise, would then be the sole creators of the cryptocurrency and would control the amount outstanding…”https://seekingalpha.com/article/4136571